1

In-depth Scrutiny of Service

Invoice for Cost Reduction

A REPORT
ON
IN-DEPTH SCRUTINY OF SERVICE
INVOICE FOR COST REDUCTION
BY
AishwaryaUdaniya
15BSP0098
Mondelez India Foods Pvt Ltd.

Signature of company guide

Signature of faculty guide

A REPORT
ON
IN-DEPTH SCRUTINY OF SERVICE
FOR COST REDUCTION

INVOICES

BY
AishwaryaUdaniya
15BSP0098
Mondelez India Foods Pvt Ltd.
A report is submitted in the partial fulfillment of the
requirement of the PGPM program of IBS PUNE
Date of submission

AUTHORISATION

This is to authorize Ms. AishwaryaUdaniya, Enrollment no. 15BSP0098, student of PGPM

program at IBS Pune, to carry out a project at Mondelez India Food Private Ltd. On In-depth
Scrutiny of Service Invoices for Cost Reductionof Mondelez India Foods Private Ltd.
during her summer internship program for the period of 14 weeks starting from 16 February
2015 and ending on 20 May 2015 under my guidance and submit the report in partial fulfillment
of the requirements of the PGPM program and all the work shown in the project report is true to
the best of my knowledge.

DateMs. Deepti Bajaj

Mondelez India Pvt Ltd.
Executive- Finance
Malanpur plant (Bhind)

AUTHORISATION
This is to authorize Ms. AishwaryaUdaniya, Enrollment no. 15BSP0098, student of PGPM
program at IBS Pune, to carry out a project at Mondelez India Foods Private Ltd. On In-depth
Scrutiny of Service Invoices for Cost Reductionof Mondelez India Foods Private Ltd.
during her summer internship program for the period of 14 weeks starting from 16 February
2015 and ending on 20 May 2015 under my guidance and submit the report in partial fulfillment
of the requirements of the PGPM program and all the work shown in the project report is true to
the best of my knowledge.

DateMr. Rajesh Khandewal

Mondelez India Pvt Ltd.
Senior HR executive
Malanpur plant (Bhind)

ACKNOWLEDGEMENT
This dissertation would not have been possible without the help of so many people in so many
ways.I am grateful to Mr. Chetan Chauhan, Senior HR Executive at Mondelez India Pvt Ltd.
Malanpur Plant for providing me the opportunity to be associated with such a reputed
organization and giving me complete freedom in going about with the project.
I would like to express my sincere thanks to Mr. Ashok Prasad, Finance controller at Mondelez
India Pvt Ltd who has the attitude and substance of a genius. He continually and convincingly
conveyed the spirit of adventure in regard to research.
I consider it an honor to work withMs. Deepti Bajaj- Company Guidefor her encouragement,
support and valuable guidance till date. The project was quite unknown to me and required lot of
knowledge and guidance. In spite of being fraught with unending engagements in office, she
keeps me motivating to try best at all times.
My thanks to Mr. Rajesh Khandelwal , Senior HR executive at MDLZ for their guidance and
constant supervision as well as for providing necessary information regarding the project.
I am deeply indebted to my professor and Mentor Prof. JyotiTilak- Faculty Guide, IBS Pune,
for being very supportive and helpful. Her constant motivation and willingness to help at any
point of time and guidance have been very valuable and she continually infused the attitude of
being a perfectionist in me.
At this point of time, I would also like to thank all members at Mondelez India Food PvtLtd.
,friends and my family who is providing me valuable insights and are very supportive and
friendly in providing an environment for learning. Lastly, I would like to thank ICFAI
BusinessSchool, Pune and Mondelez India Food Private Ltd., Malanpur (Distt. Bhind,
M.P.)for providing me an opportunity to gain hands-on experience by working in a corporate
environment.
Thank you,
AishwaryaUdaniya

Executive Summary
Name: Aishwarya Udaniya
Enrollment: 15BSP0098
IBS PUNE
Organization name: Mondelez India Foods Pvt Ltd
Industry: Confectionery Industry
Address: Plot No.25, Near village Gurikha Malanpur Industrial Area,( Distt. Bhind) 477117
(M.P)
Company description: Mondelez India is a food product company with Interest in chocolate
confectionery, Milk food, Drinks, snacks, and candies. Mondelez is the Market leader in
chocolate confectionery business with a market share of over 70% . Some of the key brands of
Mondelez are Cadbury Dairy milk, 5 star, Perk, clairs, celebrations, Temptation and Gems. In
Milk food drinks segment, Cadbury main product, Bourn vita is the leading Malted food drink in
the country. Cadbury employees 140000 people in over 200 countries.
Title of the Project- In-depth Scrutiny of Service Invoices for Cost Reduction.
Objective

The proposed project endeavor to study that how to reduce the cost by reviewing the
Invoices

Arrive at aim to achieve the most effective way of delivering services to the required
level of quality and to give a various possible solution for cost reduction.

To signify the Importance of internal auditing in Mondelez India Foods Pvt Ltd.

To suggest and Implement ways of cost savings through internal auditing.

To focus on the areas such as Canteen, Manpower, Bus and Laundry as a means of cost
cutting.

Background: In the present scenario, internal auditing plays a very crucial role in the success of
any organization. The project aims to show that by how reviewing an invoice can help us in
increasing productivity and saving costs. Internal auditing is a common procedure followed by

every organization and even every professional try to save cost, but the main focus generally lies
on the product, rather on services. Every brand, including Cadbury outsourced a variety of
services and spending crores of amount annually. The project hereby showcases that we can even
save by shifting our focus on invoice. I work on the four service which MDLZ outsourced
fromvarious vendors i:e Canteen, Laundry, Manpower and Bus. In canteen I saved approx
3,357816 yearly, there is many errors and frauds found in the bill of canteen and in another 3
services I proposed many areas where company can save cost.
Methodology: The data collecting for the successful completion of the project comprised of
secondary data..
The methodology which was followed to complete this project is as follows:

Pooling of the data i:e ( invoices, reports, history, contractual agreements) of various
services total number of the headcount of the month. I pool the 5 month service Invoice

of MDLZ.
Scrutinize of the collected data and compare that count which is mention in the invoice

with the actual headcount of the employees.

Detect the duplicates or discrepancies (if any) between invoice cost and contractual cost

or find the reason behind the overbilling in invoices.

Deriving the best possible solution for effective review of invoicing which can control
and reduce the cost.

Key Findings
Canteen- When I review the invoices of canteen in that I found many errors and frauds. The
Vendor is charging more than the maximum headcount of the employees. So this gave the approx
3,357,816 yearly saving to the company.
Laundry- When I review the invoices of laundry there is no scope found by reviewing the
invoice because vendor charges the actual rates, but in this service we proposed 3 options for
cost reduction and in that 3 options one option is suitable for the company and it gave an approx
833976 Rs savings yearly.
Bus- Same course is done with the bus we proposed 2 options and from that option number two
is accepted by the mangers. It gave a savings of Rs 124039 yearly.

Manpower- There are two types of contractual labor work in a company one who get the wage
on no. of tons worked and another is daily wage labor as per agreement .I managed to work on
the daily wage labor and gave an approx savings of Rs 1260000 yearly.

Recommendations
From the following study undertaken, it is suggested that for deriving the productivity from
service invoices, they should first and foremost need to generate the awareness in the employees
that why productivity is important for the organization.
My second recommendation would be that proper reconciliation of Invoices must be there so as
to avoid the window dressing.
My third recommendation would be that company should increase the rates of vendors. If they
will pay them a satisfied amount then they will not do such type of frauds and negligence what
they do in canteen bills.
Achievements: Certificate of appreciation and Thanks for deriving the Productivity in
canteen service.

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Table of Content

Sno.

Particulars

Page no.

Authorization

4-5

Acknowledgment
Executive summary

6
7-9

Abstract
Certificate

11
12

Introduction

13-14

Industry trend

15-16

2.1 Market size

2.2 Product profile

16-17
17-18

2.3 Competitive scenario

2.4 Revenue of Confectionery Industry

18-19
20

2.5 Revenue share of confectionery Industry sub-segment

Company Analysis

21
22

3.1 SWOT Analysis

3.2 Michael Porter Analysis

24-26
26-27

Objective and scope of study

28

Project planning and Methodology

29

Analysis and Interpretation

6.1 Canteen

30-35
30-35

6.2 Laundry

36-39

6.3 Manpower

40-41

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6.4 Bus

42-44

7
8

Limitations
Findings

45
46

9
10

Recommendations
Future Scope

47
48

11

References

49

11

Glossary and Abbreviation

50

Abstract
This project is the knowledge gaining work on In-depth auditing of service invoices for cost
reduction in Mondelez India Foods Pvt Ltd. at Malanpur plant. These measures of the cost
reduction comeunder the Internal auditing concept. Internal auditing in order to improve and
make accountability, reliable, ethical and professional practices as well as effective risk
management.Improved quality of output,helping and guiding in decision making,monitoring the
performance etc. Internal auditing is not just to tackle the financial matter only but it also helps
in analyzing cost and benefits, utilization of resources, its implementation and effectiveness of
the management.
The report begins with the overview of confectionery industry of India followed by the profile of
the company, products and services offered by the company and the detailed analysis of the
companys financial resources.
The projects highlights the measures of cost reduction techniques in services with the help
auditing of Invoices of the company and also suggestions of various proposals made to Malanpur
plant so that they can reduce the cost of the service which they take from the vendors.
The study conducted will also give a valuable learning to the company that before paying the
amount to vendor, auditing of the invoices should be necessary and concerned officials of the
company must keep the backup record of transactions by which company can check that invoices
at the end because it is not necessary that all the invoices which is provided by the vendor are
correct there may be a chances of errors, frauds and manipulations.

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The findings from this project will be useful to company by knowing how cost reduction can be
possible by reviewing the invoices and how to detect the errors and frauds from the invoices.

Certificate

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Chapter 1: Introduction
Many organizations focus on their cost reduction efforts around the numbers. This is the reason
why cost reduction initiatives are regarded as the sole domain of the financial community. Cost
cutting is often no more than a review of the budget, the introduction of a saving against each
line item, and then monitoring actual versus planned spend. There is no problem with this
approach if it is short-term cuts that are wanted. It is easy to reduce costs by a small amount on
each line item by delaying expenditure into a future period. However, these are not real savings
and the organization loses the opportunity to review underlying business practices during
difficult economic periods that have the potential to create sustainable cost savings. Once the
pressure is off, these so called cost savings quickly come back into the budgets and
management are none the wiser. This is the tactical response to cost cutting. It can be done and it
does have benefits but these are mainly short term in nature.
On the other hand, organizations that approach their cost reduction efforts in a strategic manner
have the opportunity to significantly strengthen their competitive position from a cost
perspective rather than just survive the current economic downturn. Activity-based cost reduction
is a strategic response to cost cutting that provides sustainable benefits. This means the focus
shifts from the individual line items on the income statement or balance sheet toward the
underlying activities that drive the expenditure. Once these underlying activities are understood,
it is relatively easy to identify and prioritize improvements that will have a larger and longerterm impact on the business.
The biggest risk for any major initiative is the ability of the organization to sustain the benefits.
In a survey of 115 multinationals taken from the Financial Times Stock Exchanges top 350
companies, it was found that 70% could not sustain the benefits of their cost reduction efforts

14

beyond two years. Often this is due to the fact that the changes introduced are not continuously
re-Inforced through regular, visible reporting of the key measures that determined success in the
beginning.
The organization loses sight of those aspects that were considered essential when the program
was first introduced. This is where the internal audit function can play a significant role. The
internal audit function should be an integral part of any strategic cost reduction program because
it can ensure the redesigned business processes, activities and structures (if any) remain
responsive to the risks, and are embedded in the business methods and practices.
The value that can be achieved by the inclusion of the internal audit function is immense, as it
can support a number of strategic objectives, including the following:
1. Achieving buy-in to the cost reduction program from a broader group of stakeholders.
2. Improving visibility at management, executive and board levels by ensuring internal audit
reports include commentary on the cost cutting initiatives.
3. Identifying the risks and implications of cost reduction initiatives.
4. Providing valuable input and insight into the key processes and activities that drive certain
costs.
5. Identifying critical improvement drivers to keep the business focused on priority areas.
6. Bringing a process and control capability to the overall program.
7. Monitoring and evaluating key performance indicators on a continuous basis.
8. Developing regular reviews as part of the annual internal audit plan to support sustainability.
9. Providing an objective viewpoint on the proposed initiatives prior to, during and after the
introduction of the cost cutting program.
10. Reporting on the benefits realized by the program.
Investors and other stakeholders in public and private sector institutions are concerned with the
safety of their assets. Shareholders delegate rights to managers to act in the principals best
interest. This separation of ownership from control implies a loss of effective control by
shareholders and taxpayers over managerial decisions hence concerns over the safety of their
investment. It is therefore important that good governance and cost reduction policy practices are
adopted to achieve organizational goal of safeguarding shareholders assets and wealth
maximization. Key among the best practices is the control measures put in place to detect and
prevent frauds within the entity whether private or public.

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Working through this approach in a meticulous way, organizations are more likely to achieve
substantial benefits over the longer term by identifying significant improvement areas

Chapter 2: Industry trends

The confectionery Industry in India approximately divided into:

Chocolates
Hard boiled candies
clairs and toffees
Chewing gum
Lollipops
Bubble gums
Mints and lozenges

The confectionery industry of India, which was ranked 25th in the world in 2009 , has now
emerged as one of the largest and well-developed food processing sectors of the .The credit goes
to liberalization along with growing Indian economy, which have led several multinational
companies to invest in Indias confectionery market, further changing the face of this industry.
According to new research report of Indian Confectionery Market Analysis, the Indian
confectionery market is going through rapid changes in terms of trends and consumer behavior
pattern. The industry is being benefitted from the countrys economic boom, and growth in
consumer spending. This higher consumer spending is also driven by the new found mall culture
and changing lifestyle. Besides, the entry of various multinational companies in the Indian
confectionery market has not only increased the competition but also the per-capita consumption,
by launching new products at affordable prices, and creating awareness among the buyers
through advertisements and promotional campaigns. During the research, they found that
emerging trend of gifting confectionery products and untapped rural market are among the key
factors that are expected to fuel growth in Indian confectionery market in the near future. Backed
by these factors, the Indian confectionery industry has a positive outlook,According to India
Chocolate Market Forecast & Opportunities, 2018,the per capita consumption of chocolates is

16

increasing in the country which will continue to flourish the market revenues. It is expected that
India chocolate industry will be growing at the CAGR 23% by volume between the years 20132018 and reach at 3,41,609 Tons. The dark chocolates are expected to account for the larger
market share when compared to milk and white chocolates in the coming years.
Apart from this Indians like to celebrate with sweets and they start relishing it at a pretty young
age. While the West may be more calorie conscious, the Indian kids start off by indulging in all
sorts of sugar boiled candies. No wonder, the confectionery industry is one of the largest and
well developed among the food processing sectors in the country.
Cadbury with Dairy milk, Perk, 5 star, Gems, Celebration, Bytes, Dairy milk clairs, and Halls
brands is a key player in chocolate.
Milk Beverages: The milk beverage industry is valued at Rupees 16.1 billion with an annual
turnover of approx 63,000 tones. As per Nielsen estimates the industry is growing at 10.1%.
Cadbury is key player in the segment with Cadbury Bourn vita and Cadbury Bourn vita 5 star
magic.

2.1 Market size

Indias confectionery market is expected to grow by almost three-quarter in four years as

the burgeoning middle class consumers more gums and jellies, and chocolates still
dominates. The market for the confectionery in India was worth close to US$ 1.3bn in
2013 and is expected to grow by 71% to reach US$2.2bn in 2018.

Economic growth and development has resulted in rising disposable incomes in India,
especially among the middle-class. According to research, Canadian specialist said, this
class accounts for 45% of overall confectionery consumption in the country, and more
than half of the consumed confectionery is gum.

In India, gum is seen as a luxury item, with branded products predominantly available in
urban areas. This is especially true for gum that provides fresh and minty breath, as it
portrays a professional and well-groomed image that is becoming more vital to success in
the Indian workplace.

17

Hot climate means Indians prefer gums and jellies to chocolate:

Due to the soaring temperatures in India, consumers prefer gums and jellies over
chocolate, especially in the summer months. Canadian finds that sugar confectionery and
gum will outsell chocolate in volume terms: Gum is expected to see an increase of 64%
in volume consumption by 2018, compared to a growth of only 41% in chocolate
consumption. Specialists said Weather plays a vital role for sugar confectionery and gum
sales. However, when translated into value terms, the chocolate market still dominates
and is expected to surpass the US$1 billion mark in 2018.
Chocolate continues to be firm favorite with children:

Although the report shows that gum is becoming more popular among adults in India,
sweets and toffees will stay firm favorite with children and continue to be high in
demand. Kids 9 years and younger accounted for almost a quarter of sugar confectionery
and chocolate consumption in 2017. Consumers in this age group, like in any other
country, have a preference for sweet tasting products, which will be further enhanced as
they develop their tastes and preferences for certain brands and products.

2.2 Product Profile

Confectionery sector in India is broadly divided into three segments sugar-boiled

confectionery (SBC), chocolates and gum-based confectionery.

Of the total market, sugar confectionery dominates the market share of around 53.6% and

chocolate and gum-based confectionery segments hold the rest.

In value terms, chocolate was the largest category in the Indian confectionery market in
FY 2012 13, with a 40.1% share. However, in terms of volume, it was the smallest

category recording 20.6% of share.

Sugar confectionery segment has registered higher volume sales over the recent years
due to lower price than chocolate segment. However, it has been the slowest growing

segment of the market with an annual growth rate of 5.5% from FY 2009 14.
Chocolate consumption is mainly centered in semi-urban and urban areas due to foreign

exposure, rising disposable income and consumers impulse buying.

India's chocolate confectionery market is valued at INR 58 billion in FY 201314, and is
expected to grow at a CAGR of 16% to reach INR 122 billion by FY 201819.

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India remains a very price sensitive market and appropriate pricing is key to the success
of new products.

Segment- wise volume share of India confectionery market (In percent)

26%

Sugar boiled candies

54%

20%

Chocolates
Gum and Mint

Figure 1 ( Source Onrica)

2.3 Competitive Scenario

Sector Structure

Confectionery sector in India is well consolidated with top players holding a major share
of the market; local subsidiaries of global confectioners are among the leading players in

India.
Large players have a significant presence in chocolate confectionery market while
smaller players primarily operate at a regional level and have sizeable base in sugar-based

confectionery market.
The confectionary market in India is mainly dominated by multinational players such as
Mondelez (formerly Cadbury India), Nestle, Perfetti Van Melle, Mars India and Lotte as

well as large domestic players such as Amul, Parle, ITC, Ravalgon and Candico.
Multinational companies such as Ferrerro, Hersheys and Lindt have a strong presence in
the premium chocolate market. In the chocolate confectionery segment, Cadbury holds a
market share of around 65-70%, followed by Nestle at around 20%

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In recent years, multinational players have emerged dominant in sugar confectionery

market, which was traditionally reigned by regional players. With the emergence of

branded quality products, the competition in sugar confectionery has swelled further.
Conversely, low penetration and consumption levels provide ample growth opportunities
and make competition less of a constraint.

Major Players in India's Chocolate Market

6% 3%
Cadbury
Nestle

21%

Ferrero
Other

70%

Figure 2- Source- (CMIE Prowess)

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2.4 Revenue of Confectionery Industry

The global confectionery market to grow at a CAGR of 2.68% over the period 2014-2019.The
net sales of confectionery sector have grown with a CAGR of approximately 20.47% during the
period from FY 200809 to FY 201213.The sector has been showing a constant increase which
can be attributed to the growing consumption level followed by wide product range.

Sales Trend (Sales in US billion dollar)

70
60
50
40
30
20
10
0

FY 2010-11

FY 2011-2012

FY 2012-2013

FY 2013-2014

Sales Trend (Sales in US billion dollar)

Figure 3 Source ( Stastista portal)

FY 2014-15

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2.5 Revenue share of Confectionery Industry sub segment

With 51% of market share (in terms of revenue), in milk chocolate from the largest segment of
the confectionery industry.

White chocolate; 18%

Dark chocolate; 31%

Milk chocolate; 51%

Figure 4- Source (www. Marketsandmarkets.com)

Future Fortune:
The Indian Confectionery sector is forecast to record positive growth between 2012 and 2017,
with strong double digit Compound Annual Growth Rates (CAGR) for both value and volume;
18.2% and 14.5% respectively. The category is the expected to be the third best growing of the
15 Food sectors monitored by Canadean in the country, but will remain in its position as the
fourth largest market. In value terms, Chocolate was the largest category in the Indian
confectionery market in 2012, with a 40.1% share. However, in terms of volume, it was the
smallest category recording 20.6% of share. Chocolate is of growing interest to the Indian
consumer. In the period leading up to 2017 both value and volume are expected to be above the
sector average, at 21.6% and 19.3%, respectively.

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Chapter 3:Mondelez India Foods Pvt Ltd- An Analysis

Dream
Dream is to create delicious moments of joy and thats exactly what their tasty snacks do.
Theyre that stolen moment for us.

Beliefs
Theyre a big company. But they believe, above all, in one thing something thats unique to
them and thats the power of big and small. Yes, They have the scale and resources of a global
powerhouse. But also the speed, creativity and agility of a fresh new start-up.

Values
The seven values, which provide the foundation for their company and guide everything they do:

They believe theres big value in every human connection and in every bond especially
when times get tough. So they. INSPIRE TRUST

They believe that its up to each of us to do what it takes to drive growth.

So theyACT LIKE OWNERS

They believe that complexity crushes the human spirit and that simplicity is the essence
of

speed.

So theyKEEP IT SIMPLE

They believe we cant wait for it to happen: theyve got to make it happen now.
So theyDISCUSS DECIDE DELIVER

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They believe honest discussions and direct feedback are essential to making the right
decisions,

quickly.

So they...TELL IT LIKE IT IS

They believe in the power of different perspectives and in daring to try new ways.
So they areOPEN AND INCLUSIVE

They believe that what makes our workplace great is passion and personality.
So they LEAD FROM THE HEAD AND THE HEART

Mondelez India is a food product company with Interest in chocolate confectionery, Milk food,
Drinks, snacks, and candies. Mondelez is the Market leader in chocolate confectionery business
with a market share of over 70% . Some of the key brands of Mondelez are Cadbury Dairy milk,
5 star, Perk, clairs, celebrations, Temptation and Gems. In Milk food drinks segment, Cadbury
main product, Bournvita is the leading Malted food drink in the country.
Mondelez is the worlds largest confectionery company and its origin can be traced back to
1783when Jacob Schweppes perfected his process for manufacturing carbonated mineral water
in Geneva, Switzerland. In 1824, John Cadbury opened in Birmingham selling cocoa and
chocolate. Cadbury and Schweppes merged in 1969 to from Cadbury Schweppes. Milk chocolate
for eating was first made by Cadbury in 1897 by adding Milk powder paste to the dark chocolate
recipe of cocoa mass, cocoa butter and sugar. In 1905, Cadburys stop selling brand, Cadbury
Dairy milk, was launched. By 1913 dairy milk had become Cadburysbest-selling line and in the
mid-twenties Cadburys Dairy Milk gained it status as the brand leader. Cadbury India began its
operation in 1948 by importing chocolates and then re- packing thembefore distribution in the
Indian Market. Today, Cadbury has five companies owned Manufacturing facilities at Thane,
Induri (Pune) and Malanpur (Gwalior), Bangalore and Baddi (Himachal Pradesh) and sales
offices (New Delhi, Mumbai, Kolkata and Chennai). Its corporate office is in Mumbai
worldwide. Cadbury employees 140000 people in over 200 countries.

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Major Achievements of Mondelez

Worlds No.1 confectionery company

Worlds No. 2 Gums company
Worlds No.3 beverages company
Cadbury Dairy milk & Bournvita have been declared a Consumer Superbrand for

2006-07 by Superbrands India.

Cadbury India ranked 5th in FMCG sector,in a survey on Indias most respected
companies by sector conducted by Business World magazine in 2007.

3.1 SWOT Analysis

SWOT Analysis is the strategic planning tool mused to evaluate the Strength, Weakness,
opportunities and threats involved in the project or in any other situation requiring the decision.
Strength and Weakness is internal factor and opportunities and threads is external factor.

As per Cadbury India is concern SWOT analysis is as follows.

Strength:

Brand name- Cadbury has earned a reputation in market for extending the quality
product to the market vis-a-vis completion. It has maintained the strong brand name in
confectionery market globally as company as in India.

Market share- Cadbury India has the largest market share of 70% in confectionery
market across the country.

Distribution Network- Huge distribution network across the country with strong visual
presence across all possible channels such as stores, Railway station, Malls, Gifting mix
etc. Visibility is created almost everywhere to promote Cadbury products near schools

25

and other places. Events such as Diwali and Valentines Day are capitalized very smarty
by MDLZ.

Aggressive marketing through media channels as company as a promotional route i:e

has Amitabh as a brand ambassador of Cadbury Dairy milk and provides plethora of
schemes of all the channel partner as company as for end consumer.

It is a global chocolate brand built upon a reputation of fine product and services.

Cadbury Schweppes plc was rated as one the top 100 companies to work for in 2006. The
company is a respected employer that values its workforce.

The organization has an strong ethical values and strong ethical mission statement.

Its chocolate and MFD brands are well established in Indian Market. Cadburys Daily
milk is the foremostname in Indian chocolate Market. 5 Star is another very strong
Cadbury brand in chocolate, In case of the Malted food drinks, Cadburys Bournvita is
the strongest food beverage.

Rich Product mix.

Support from the parent company i:e Cadbury Schweppes plc. Cadbury Schweppes is the
very profitable organization, generated revenue of more than 6590 billion (2006)

Weakness

Cadbury ones main strength can be its biggest Weakness. Cadbury has done rapid line
extension in recent years. Now it is selling well over 60 different lines competitors can
take advantage of this by identifying vulnerable spots in this huge portfolio.

Little penetration in rural sector

26

Relatively high price brand.

Opportunities

Cadbury is very good at taking advantage of opportunities.

The company has the opportunity to expand its global operations. New market with new
products which are limited in particular region.

Cadbury has decided to focus on a few of its key brands such as Cadbury Dairy milk,
Bournvita, clairs and Halls to drive growth for the company.

Co- branding with other manufactures of food and drinks, and brand franchising to
manufacturer of other goods and services both have potential. Recent tie with Kentucky
fried chicken (KFC) for selling ultra-perk is one such example.

Cadbury India is attempting to Increase the declining market for the chocolates with
innovation, one of which is its sweet snacks, Bytes.

The Indian Market and more specifically the urban area where the penetration if
chocolate is low can be developed as a future market through availability and
affordability.

Target Urban population is 300-350 million people, while Cadbury is catering 58 million
people only thus, there is good scope to further widen its reach. This is one of the tactical
strategies, whereby CIL aim to enhance share of chocolate confectionarys market share
in impulse category from 6% to 8%.

Per person chocolate consumption is India among the least. As a market leader, how do
you plan to risethe consumption level? Company will continue to focus on affordability
and value of money, thereby raising the chocolates in daily consumption basket in India.

27

Additionally with our focus on width of distribution company hope to continue to expand
the market for chocolate.

Threats

Cadbury is exposed to rise in cost chocolate and dairy product.

Entry of many foreign players in Indian confectionery market, which are giving higher
margin to the retailers.

Stiff completion in confectionery product.

The company has the large exposure to foreign currency exchange rate risk, mainly on
account of imported cocoa beans and cocoa butter in US dollar and Pound Sterling.

Storage Problem- Given India hot and humid climate, can there not be an alternative in
teams of storing and packaging? Given Indias hot and humid climate, need to be stored
in cool, dry and hygienic place away from gains and cereals. To this end company
provides retailers with storage dispensers and visi- coolers to give adequate product
protection. Additionally, every product label mentions the care instruction, store in cool,
hygienic and dry place.

3.2 Michael Porter Analysis:

1. Threats of New Entrants- Rivalry among the existing player is( high).

Many businesses are competing against Cadbury and planning to take over the
supremacy the company has for several years.

28

Companies such as Nestle, Hersheys, Ferrero etc. are Cadburys main rivals.

Rivalry will always be strong among these companies because they sell from the
same types of stores and their products are similar in some respects.

2. Threats of substitute product or services- Entry of the competition is (Low)

The entry of competitors will be difficult because there are already well

established companies within this market.

These include, mars, nestle, Ferrero, Kraft, Hersheys and Lindt.
This makes the barrier for entry very hard for another new company to start.
They need high initial capital requirements

3. Bargaining power of the customer (buyer)- (Moderate- High)

Cadburys buyers are scattered all around the world and they are in billions.
The increasing number of competitors that offers the same type of products at a

lower cost might be the cause of customer loyalty alteration.

No switching cost for buyers.

4. Bargaining power of supplier- (Low)

Large number of suppliers.
Cadbury can buy their raw materials for cheaper and more in bulk than a medium

sized business could.

Cadbury has higher bargaining power than its supplier.

5. Intensity of competitive Rivalry- (Moderate)

Supermarkets tend to copycat popular chocolates (for example nestle Kit Kat) and

provide their own brand on the shelves at a cheaper price.

Confectionary is brought for snacks and gifts.In this way, large no. of substitutes

exists, like chips, fruits, beverages, etc.

Still chocolates scores higher than the substitutes as they are easy to preserve.

29

Chapter 4: Objective and scope of study

Auditing of bills and invoices are to protect the organization from various type of errors
and frauds. These errors and frauds emanate from rapid change in terms of competition
and social Complexities.

Todays organizations face a global economic crisis of historical proportions. In response,

management, boards of directors and leaders throughout the organization are taking fresh
looks at virtually all aspects of the business to assess how to enhance productivity,
processes and systems, yet still stay in control. They are starting, and very likely will
continue, to think and respond differently as they determine how to operate their
businesses successfully and maintain plans for long-term growth in todays unique
business environment.

The proposed project endeavor to study that how to reduce the cost by reviewing the
Invoices

Arrive at aim to achieve the most effective way of delivering services to the required
level of quality and to give a various possible solution for cost reduction.

To signify the Importance of internal auditing in Mondelez India FoodsPvt Ltd.

To suggest and Implement ways of cost savings through internal auditing.

To shift focus on Invoice as a means of Cost reduction

To focus on the areas such as Canteen, Manpower, Bus and Laundry as a means of cost
cutting.

30

Chapter 5:Project Planning and Methodology

There is a wealth of information available in the area of internal auditing since it is a current
topic of interest and has a propounding significance to organizations in the 21st century.

The data collecting for the successful completion of the project comprised of secondary data.

As per my topic is concern there is no scope to use the primary data because for cost reduction
we have toidentify the area where the cost can be reduced for that companys internal data is
required.

31

The methodology which was followed to complete this project is as follows:-

Pooling of the data i:e(invoices, reports, history, contractual agreements) of various

services total number of the headcount of the month. I pool the 5 month service Invoice

of MDLZ.
Scrutinizeof the collected dataand compare that count which is mention in the invoice

with the actual headcount of the employees.

Detect the duplicates or discrepancies (if any) between invoice cost and contractual cost

or find the reason behind the overbilling in invoices.

Deriving the best possible solution for effective review of invoicing which can control
and reduce the cost.

I also took references from some of the previous projects done by my seniors or officials of
finance department. I got all figures and recommendations cross checked from, Mr. Rajesh
Khandelwal (Senior HR executive, MDLZ- Malanpur)

Chapter 6:Analysis and Interpretation

6.1Canteen:
Review the 5 month Invoices of canteen and reduce the cost by Interpretation of the
invoices.
MaximumHeadcount of the employees who consume meal everyday
Category
Workmen
Staff
Manager

A shift
158
4

B shift
160
4

C shift
156
4

G shift
41
67
17

Total
515
79
17

32

Retainer
Apprentice
Total

162

164

38
15
178

160

38
15
664

Shift wise Canteen service

Shift

Timin

Morning

Early

Morning

Lunch

Evening

Dinner

tea

morning

breakfast

breakfast
N

tea

6AM-

2PM
2 PM- N

10PM
10AM-

6 AM
9AM-

5PM

Maximum HeadCount of the employees Per shift

Shift

A
B
C
G
Total

Morning

Early

Morning

tea

morning

Breakfast

162
0
160*2=320
178
660

breakfast
0
0
160
0
160

162
0
0
0
162

Lunch

Evening
tea

162
0
0
178
340

0
164
0
178
342

C shift get the tea two times on with early morning breakfast and Morning breakfast
Scrutiny as per Invoice
Head count multiplied by 30 and 31 days

Dinner

0
164
0
0
164

33

Month
Meal
September
504x30=15120
Count as per Invoice 19005

Breakfast
322x30=9660
12822

Tea
1002x30=30060
46400

(In Rs)
Difference

3162

16,340

Month
Meal
October
504x31=15624
Count as per Invoice 19755

Breakfast
322x31=9982
114838

Tea
1002x31=31,062
50393

(In Rs)
Difference

4856

19,331

from 3885

headcount ( In Rs)

from 4131

headcount(In Rs)

Month
November
Count as per Invoice

Meal
504x30=15,120
19,651

Breakfast
322x30=9,660
13,548

Tea
1002x30=30,060
48,935

( In Rs)
Difference ( In Rs)

4531

3888

18,875

Month
December
Count as per Invoice
Difference

Meal
504x31=15120
20733
5613

Breakfast
322x31=9982
14655
4673

Tea
1002x31=31,062
51460
20,398

As per Invoice if we considered on an average then the vendor is charging 658.5 plates extra in a
month.
Apart from this excess charging, there are many points which came out while reviewing the bills
in terms of formatting of bill, constant quantity in Breakfast and Tea.
I prepared many queries which came out from the bill and ask, the answers to the vendor in the
meeting.

Queries chart

34

Questions we asked
Vendors answer
1. Is service provider provide any proof of No, till now service provider is not providing
meals and breakfast from G-slips along any proof of guest slips to the company with
with invoice of every month.

the invoices. But it was decided in the

meetingthe person who is issuing the slips also
keep the backup record of every month with

him in the form of carbon copies.

2. Why meals, breakfast and tea is more In that month 5 Star Casopia audit is going so
in the month of October and December.

many auditors came from different cities and

stayed in company guest house.

3. It has been observed that quantity of tea Yes, In this point vendor said that he is
is constant in almost four month even charging on an average quantity daily.So onthis
on Saturday and Sunday.

point we gave a strict warning to the vendor

that on the basis of an actual count he will

charge.
4. Is the presence of HVAC, boiler, and Yes, it is always full if any of the employees is
DG operator staff is always full.
on leave then another person come in his place.
5. I s medical staff and DG operator not Yes, they do come, but here vendor is charging
come to canteen for meal or breakfast.

double he counts the plates as well as he

charge it into the different Colum in bill by

name meal to DG operator.

6. Total number of drivers, security staff 3 drivers and they only get a tea
and medical staff in all shifts
7. Is the presence of medical staff, drivers Yes it is full everytime.
or security is full every time.
8. How vendor provide the Falhaar per He counts the total number of Falhaar plates in
plate and when he give Falhaar.

a day.

When we discussed such issues with vendor, he came out with a number of problems. Like,
people usually ask for a variety of tea including lemon tea, green tea and same goes with the
quantity and variety of breakfast they order which is not mention in the contract. Sometimes they
need fruits and sometimes heavy lunch too. This adds upto the cost and the reason why he

35

charges more than usual. So, by keeping all these points in mind we ask him for provide the bill
of March on the actual consumption basis.

Consumption as per Bill of March:

When we get the March bill we observed that he directly reduce approx. 150000 Rs if we
compare it with all 2015 bills. But when again I review the bill I still found the scope to save
125000 Rs. more.
The Working of the bill are as follows:As vendor said he is charging extra because the consumption is more than the rates given in the
contract. So for comparing the bill of March we take a head count of the vendor on the basis of
he charge in the bill.
The Headcount of February 2016
Category
SFC
Executive
Manager
Retainer
Apprentice
Guest
Others
Total

A
162
5
0
0
0
0
0
162

B
164
5
0
0
0
0
0
164

C
160
5
0
0
0
0
0
160

G
42
66
17
29
15
20
20
209

Total
528
81
17
29
15
20
20
719

Actual consumption as per headcount

Shift

Morning tea

Early

Breakfast

Lunch

Dinner

170

170

morning
A

170

breakfast
0

36

B
C
G
Total

0
336
209
715

0
168
0
168

0
0
0
170

0
0
209
379

172
0
0
172

We count Regular working day meal and Sunday meal or breakfast separate
Regular working day meal
Meal
Breakfast
Tea

551
338
1096

Sunday Meal
Meal
Breakfast
Tea

429
338
765

Actual working
Rate (in Rs)
Meal ( 43Rs)
Total consumption 551x27= 14877

Breakfast ( 9Rs)
338x27= 9126

Tea ( 6Rs)
1096x27=29592

338x4= 1352

765x4= 3060

per 16,593

10,478

32,652

attendance (In Rs)

Total count as per 17,237

13,648

44,918

Invoice (In Rs)

Difference ( In Rs)
Excess per day
Savings

3,170
3170/31=102.26
3170x9=28,530

12,266
12,266/31=395.68
73,596

on regular working
day
Total

consumption 429x4= 1716

on Sunday
Total
as

644
644/31= 20.77
644x43=27692

After reduction of 150000 in the bill of March by vendor we still found the overcharging of
129818 Rs(27692+28530+73596) , if we calculate again then we save 150000+129818=279,818
Rs Approx.monthly. Yearly we can save- 279,818x12= 3,357,816 Rs

6.2- Laundry Cost Reduction Proposal

37

Here, it was a different case. Billing was not an issue as the rates were fixed for every kind of
costume or Uniform. Every employee of Mondelez gets 7 pairs in a week and 100 apron quantity
is fixed which should be compulsory kept in the organization. The uniform truck come from
Delhi 2 times in a week that is Monday and Wednesday.
Total headcount of employee who wear uniform:
Division
SFC
Mangers
Executives
Retainers
Apprentice
ETP
I taster
Aparajitha
Consultant
Total

Max head count

599
19
90
40
70
2
2
1
3
773

Head count of Dec

595
13
91
37
13
0
2
1
2
754

Head count of Jan

599
17
81
37
14
0
2
1
2
753

Approx.Rates (As per Contract)

Product

Color

Number

of Changes

Pcs/ person

Weekly price

name
Male/ female White

users
1

week
Daily

10.63

shirt
Male/ female White

Daily

10.96

trouser
White Long White

Daily

12.2

coat
Proposed3 option for saving the cost in a laundry service

Option1- If uniform pair is reduced by 6

Option2- If uniform pair is reduced by 5
Option 3 If uniform pair is reduced only for few employees

If pair is reduced by 6 or 7 then head count consumption reduction

38

Whose pair is
reduced
Yes
No
Total

732
21
753

5 pairs

6 pairs

7 pairs

3660
55
3715

4392
55
4447

5124
55
5179

Option 1- Pair Reduced by 6

Rates

Savings

10.63
Shirt
4447
4447
4447
4447
17788
17788*10.63=189086
34218

10.96
Trouser
4447
4447
4447
4447
17788
17788*10.96=194956
35280

12.02
Long coat
700
700
700
700
2800
2800*12.02= 33656
-

The quantity of long coat willremainsame because we reduced the pair of uniform on the
assumption that when employees not wear the uniform then he wear the long coat. Or long coat
cannot be reduced because many outsiders came everyday like trainees, visitors they dont have
the pair of uniform so they wear an apron.

Option2- If Pair is reduced by 5

Rates

Savings
Option 3-

10.63
Shirts
3715
3715
3715
3715
14860
1,57,962
65,343

10.96
Trouser
3715
3715
3715
3715
14860
1,62,866
67,371

12.02
Long coat
700
700
700
700
2800
2800*12.02= 33656
-

39

Rates

Savings

10.63
Shirts
5179
5179
5179
5179
20719
2,20,211
3,093

10.96
Trouser
5179
5179
5179
5179
20716
2,27,047
3,189

12.02
Long coat
700
700
700
700
2800
33,656
-

In these 3 proposals the option 2 is accepted when a pair of uniform is reduced by 6 in this the
truck only come 2 days in a week as it came earlier. And another 2 option there is
many problems increased so option 2 is suitable it will also give a good saving to a company.
But it will take time in implementation because of this the contract willrevise and revision
of contact kind of things is decided by the Mumbai head office. If they will approve, then only
this productivity is possible.

Challenges will be faced before Implementation of Proposal

Revision of contract as it is mentioned in the contract that vendor will provide the fix 7

pairs of uniforms to every employee and 100 aprons for the visitors and outsiders.
Alignment with the trade unions
As the truck of uniform came 2 times in a week from Delhi so if we reduced the pair of
uniform then may be the truck want to take more trips so it will lead to extra cost in fuel
charges, taxes etc.

Savings (Approx. Figures)

Options

Current cost

Forecasted cost

Savings

1
2
3
Total

(In )
800000
800000
800000
2,400,000

(In Rs)
730,502
667,286
793,718
2,191,506

( in Rs)
69,498
132,714
6,282
208,488

40

6.3-Manpower supply cost reduction proposal:

Mondelez International, Malanpur, the famous Cadbury production plant, No doubt the plant is
well equipped by the new machinery which required least manpower. But in the plant there are
new as well as old lines and production runs in both the lines to meet the monthly target of the
chocolates. The plant works 24x7 which results in a need of outsourced laborfor a variety of
work like loading, unloading, packaging etc. Usually permanent employees are skilled or semiskilled, so they don't opt for such labor work. And also there are a variety of tasks to be
performed inside the plant as well. This results to that Mondelez contract with the contractual
labor and provide the daily wage on the rate which is mentioned in the contract.This will be
beneficial to the company because if employee will be permanent, then there salary is fixed and
they have to pay the salary even when the production is not running. In contract labor company
only have to pay daily wage and when production is not running this cost will be saved.
There are two types of manpower supply in plant

One on tons basis It means that labor get the wage rate based on the number of tons he

worked and wages is fixed for one ton.

Another is on daily wage basis- In this no matters the labor worked for how much tons he
get the minimum wage which is mentioned in the contract.

41

I worked on the daily wage labor. Reviewing their bills was a not considerable choice.There are
5 vendors who provide a labor with a headcount of a thousand. A question was than raised that
how 24 labors are being put to work in amenity, and it was found that three labors from every
vendor is employed to provide and collect the uniforms of their labors, i:e a total 15 labors per
shift are employed for this task. 2 labors from each were employed to collecting the pair of
shoes i:e total 10 labor is employed.
Option 1 Proposal
If we reduce the 10 labors who are collecting the shoes. In spite of that we provide them a locker
and hire one permanent employee who managed that locker daily then we can save a huge
amount.
The daily wage rate of the labor is 350 Rsapprox.so if 10 employees engaged daily in
amenity,then 350x10=3500 means we spend 3500 daily on these 10 employee and locker is the
one time investment if we reduce this 3500 cost per day then monthly we can save 3500x
30=105000 and yearly 105000x 12= 1260000

Challenges

Arranging of locker facility may require huge investment.

Approval from the factory manager
Revision of the contract
Alignment of the trade unions
Settlement with the vendors for future changes

Monthly Savings
Options
1
Difference

Current Cost
4400000
4400000

Forecasted Cost
1260000
1260000

Savings
3,140,000
3,140,000

42

6.4 Bus Cost Reduction proposal:

There are 2 bus vendors who give service to Mondelez India and 4 buses is hired for every shift
name A, B, C, G.
Capacity in bus
There are 3 buses of 52 seating capacity and 2 buses for 32 seatedcapacity
No. of bus

Total capacity

Max occupancy/ Stoppage

Total

day

spend

amount

A
B

52seated
52 seated

49
49

DD nagar
Kalpibridge,

bus(approx.)
225049
225049

C
D

52 seated
32 seated

49
29

GolekaMandir
Kampoo- Morar
Vinaynagar

225049
177044

E
Total

32 seated
205

29
175

Employees Travel in each shift

Hazira
Surinagar

177044
1020235

on

43

A
44
44
42
23
21
174

B
42
42
39
24
20
167

C
43
42
37
21
21
164

G
38
37
40
26
25
166

Total capacity -205

Over capacity- 30seats
Suggested Proposals:
Option 1- If we reduced one bus of 32 Seated.
Maximum Quantity
52
52
52
32
Total 188

Minimum occupancy
49
49
49
29
176

Stoppage
DD nagar
Suri Bridge
Kampoo- Morar
Vinaynagar- Hazira
-

Challenges

Total number of employees who used to come in shift are very nearest to total capacity of

bus.
Tavera (office cab) used to Increase which lead Extra cost.
Overtime might be Increased.
Arranging Tavera (office cab)when bus is full
Stoppage time adjustment at all route to cover maximum stoppage.
Alignment of Union community member.
Option 2- If one bus of 32 seated reduced and another 32 seated quantity is
converted into 52 seated

Buses
52
52

Minimum capacity
49
49

Stoppage
DD nagar
Surinagar

44

52
52

49
49
196

Kampoo- hazira
Vinaynagar

Challenges

Use of 52 seated bus at Vinaynagar route to be verified.

Stoppage time adjust maximum coverage stoppage
Alignment of Union community member.
DB city and Govindpuri route to managed

Common challenges in both the option

Removal of 6:40 pm bus facility

Stoppage to be optimized as per proposed option
Number of available employees who used to come in shift , bus route to be prepared as

per available bus and as per employees.

All existing stoppage to be covered at maximum level.

Savings:
Cost Recovered
1
2
Difference

Current cost
1020235
1020235
-

Forecast cost
848191
896196
-

Savings
177044
124039
53005

So, according to our analysis option 2 is suitable because the challenge which in this proposal are
easily solved but if we go for option 1 then savings will be more but problems may also increase.
So we go for option 2. Then also we save 124039 per annum.

45

Chapter 7: Limitations

The primary limitations of the project would be time duration of the internship program,
as it was a 14-week internship program a through and detailed analysis would not be

possible for internal auditing.

As, project is all about the cost reduction by scrutiny of Invoices for completing this
project many conflicts arise with vendors.
As organization is very big and different services is handled by different departments
hence fixing an appointment with those officials and extracting relevant information

would be a limitation of this study.

The main understanding and accurateness of this project can be analyzed only when
person review the invoices of various services and compare the current cost in the
invoices and reduced and forecasted cost which is not showed in the project because of

confidential in nature.
Lack of availability of accurate data in coolie conversion project to finance department as

it is plant related data which act as a limitation of this study.

There are no annexure attached in this report as whatever workings are being done to
arrive at the results have used bills or contracts exact amount which is considered
confidential by the company. Therefore none of the amount in this report is actual figure,
all of them are approximate numbers or assumed.

Chapter 8: Findings

46

Internal Auditing play a significant role in the organization. Management is responsible for
continuous checking of the invoices of the service provider to remove the error and frauds on
behalf of the board. Companies always talks about the importance of cost minimization and
profit maximization and also invest huge amount on it but no one scrutinizes the in-depth invoice
and this will give a chance to vendor to over charge in the bill.
The main analysis or findings of this dissertation is to show that how productivity can be
generated only by reviewing the invoices. We have given various measures to reduce the cost in
the 4 services which Mondelez India takes from its vendor.
Canteen- When I review the invoices of canteen in that I found many errors and frauds. The
Vendor is charging more than the maximum headcount of the employees. So this gave the
approx. 3,357,816 yearly saving to the company.
Laundry- When I review the invoices of laundry there is no scope found by reviewing the
invoice because vendor charges the actual rates of shirts, trousers and long coat and also provide
the weekly bill to company, so there is no chance of fraud, but in this service we proposed 3
options for cost reduction and in that 3 options one option is suitable for the company and it gave
anapprox. 833976Rs savings yearly.
Bus- Same course is done with the bus we proposed 2 option and from that option number twois
accepted by the mangers. It gave a savings of Rs124039 yearly
Manpower- As one of the main limitation of this project is time duration is only 14 weeks and
there is very less time for this coolie conversion project. There are two types of contractual labor
work in a company one who get the wage on no. of tons worked and another is daily wage labor
as per agreement .I managed to work on the daily wage labor and gave anapprox. savings of Rs
1260000 yearly

Chapter 9: Recommendation& Suggestions

47

From the following study undertaken, it is suggested that for deriving the productivity from
service invoices, they should first and foremost need to generate the awareness in the employees
that why productivity is important for the organization
My second recommendation would be that proper reconciliation of Invoices must be there so as
to avoid the window dressing.
My third recommendation would be that company should increase the rates of vendors. If they
will pay them a satisfied amount then they will not do such type of negligence what they do in
canteen bills.As vendor said that he is providing extra things which are not mentioned in the
contract this is the reason he is charging extra more than the average consumption.Paying
considerable amount to vendorgives many benefits to company first it would be less than the
amount involved in fraud and secondly the service provider will provide the service with its best
quality.

Chapter 10: Future Scope

48

Cost reduction and internal auditing practices will give many benefits to company as well as to
society in future

In so far as Individual capacity is concerned, cost reduction helps in profit improvement.

The more the profits, the more the stable the company becomes. It enhances the share

value, improves investment opportunities and facilitates the collection of capital.

The society will be benefited by the reduced prices which may be possible by savings
form cost reduction programs. Competitive position will improve and the industry as a
whole will strive to improve the productivity and pass on the advantage of such programs

to the society.
Workers and staff of the industry may also be benefitted through increased wages and

improved staff welfare amenities

Increase in Income profitability
More cash flow means more opportunity for the company to expand and grow

Chapter 11: Bibliography

49

1.

The Cadbury India website provide many informative links to the brands, categories&

2.

products of Cadbury (http://www.mondelezinternational.com)

Food&drug Industry in India(n.d) Reterived May

3.

(http://sethassociates.com/food-and _drug-Industry_in_Indiaphp)
The FICCI website provides many useful links to the current state of India chocolate

4.
5.
6.
7.

6,

2015

from

and confectionery Industries (http://www.ficci.com)

Scribd provide Swot analysis of Cadbury (http://www.scribd.com)
DasguptaP.M.&Chakraborty A. Retrieved 2015 February 26, evolving with the
times.brand wagon, pp1
Input from my company guide, Ms. Deepti Bajaj
Input from Senior HR Executive Mondelez, Mr. Rajesh Khandelwal

Chapter 12- Glossary & Abbreviations

Glossary
1. Scrutiny- Critical observation and examination

50

2. Internal auditing- is an independent, objective assurance and consulting activity designed

to add value and improve an organization's operations.
3. Productivity- The measure of efficiency of person, machine, factory, system in converting
into useful output.
4. Activity Based Costing- is a costing methodology that identifies activities in an
organization and assigns the cost of each activity with resources to all products and
services according to the actual consumption by each.
5. Aggressive Marketing-A market or exchange with a high trading volume.
6. HVAC- HVAC (heating, ventilating, and air conditioning; also heating, ventilation,
and air conditioning) is the technology of indoor and vehicular environmental comfort.
7. Cash flow- The total amount of money being transferred into and out of a business,
especially as affecting liquidity.

Abbreviations
1. C.A.G.R- Compound annual growth rate.
2. MDLZ- Mondelez India FoodPvt Ltd.

Achievement